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Insurance Company
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Bajaj Allianz Life Insurance Company Ltd
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Plan Name
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Bajaj Allianz Swarna Vishranti
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Plan Nature
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TRADITIONAL
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Plan Category
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Pension - Retirement
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UIN No.
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116N014V01
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About Plan
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Bajaj Allianz Swarna Vishranti, a plan that ensures that your olden years are your golden years.
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Minimum Entry Age
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18 Years
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Maximum Entry Age
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65 Years
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Minimum Policy Term
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5 Years
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Maximum Policy Term
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40 Years
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Minimum Maturity Age
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45 Years
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Maximum Maturity Age
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70 Years
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Minimum Sum Assured
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Rs. 50000
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Maximum Sum Assured
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No limit
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Minimum Premium
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Rs.5000
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Benefits
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| Particulars | Description |
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Vesting Benefit
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The Sum Assured along with all accrued bonuses will be used to purchase an immediate annuity. The immediate annuity will be purchased at rates prevailing at that point of time.
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Premium Benefit
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An accident may lead to permanent total disability, limiting one's ability to earn. Bajaj Allianz Waiver of Premium Benefit is a helping hand when one needs it most. It waives off all future premiums while keeping the valuable life insurance cover alive, thus enabling you to live up to your commitments.
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Hospital Cash Benefit
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The worry of settling hospital bills (room charges) adds to the trauma of hospitalisation. Bajaj Allianz Hospital Cash Benefit reduces this financial burden and helps recoverywith peace of mind.
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Surrender Benefit
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While we do not encourage surrender of a policy as it breaks your security cover, we realize the importance of availability of cash at a short notice in some emergencies. Therefore, we offer you with a choice of surrendering the policy, provided 3 full yearsÆ premiums have been paid. In case of premium payment term of 5 and 6 years, the guaranteed surrendered value will be available after two full year premiums have been paid. The guaranteed surrender value will be 30% of premiums paid excluding the first year premium(s) and for all additional rider benefit premium(s).
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Tax Benefits
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| Section | Description |
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SEC 80 C
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Under Section 80 C premiums up to Rs. 100,000 are allowed as deduction from taxable income.
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SEC 10 (10)D
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Maturity and Death Benefits are tax free under section 10 (10) D of the Income Tax Act, 1961.
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SEC 80 D
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Under Section 80 D premium up to Rs 10,000 (Rs.15,000 for senior citizens) are allowed as deduction from taxable income.
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Comprehensive Accident Protection [116C001V01]
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Critical Illness Benefit [116C007V01]
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Hospital Cash Benefit [116C008V01]
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Family Income Benefit [116B009V01]
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You can select the unique Family Income Benefit from Bajaj Allianz that ensures total financial protection for your loved ones. In case of death or accidental total permanent disability, a guaranteed monthly income of 1% of the sum assured (12% per annum) is paid till the vesting date or at least for a period of 10 years, whichever is higher. Moreover, all future premiums are waived. This unique regular income benefit can act as an important supplement to the pension available to the spouse in case of death.
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You have the option to include a Term Cover in your policy, which will provide an additional life insurance protection at a nominal cost. This also ensures that the pension available to spouse is further supplemented.
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In the unfortunate event of death during the deferment period, your spouse will have the option to take the Sum Assured plus accrued bonuses as a lump sum or purchase an annuity to get regular income for life. For the immediate annuity, your spouse will have the Open Market Option as well. Bajaj Allianz immediate annuity, with a mark up.
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Bajaj Allianz offers an attractive premium discount structure, where you can have a discount of Rs. 74/- on the annual premium for every additional Rs. 10000 Sum Assured purchased over and above the minimum Sum Assured of Rs. 50000. For example, asper tabular premium rates, the annual premium for a 30 year old male for a 30 year policy of Rs. 5 lakh Sum Assured comes to Rs. 14,285/- before the High Sum Assured Rebate. After the High Sum Assured Rebate, the premium is Rs. 10,955/- only.
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There will be a premium discount for female policy holders in the package. Basic premium payable will be equivalent to the premium for a two year younger male policy holder for the base policy only.
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Bajaj Allianz Swarna Vishranti takes control of your future and ensure a retirement you can look forward to. This plan helps you to prudently plan for your retirement today, so that you donÆt have to worry about inflation, declining interest rates and rising medical bills in the future as also ensures the financial security of your family. The annuity payable under this plan will ensure that your earnings never stop during your lifetime. Packed with a host of innovative features and with flexibility like never before, your search for the perfect pension plan ends here.
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You have the option to purchase an immediate annuity from Bajaj Allianz or from any other life insurance company. If the immediate annuity is purchased from Bajaj Allianz, the amount available for purchase of the annuity will be marked up by 2%.
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This benefit provides comprehensive cover in case of an accident.
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03-Jul-09
10:49
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Bajaj Allianz has invested Rs 50 cr SKS Microfinance
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16-Jun-09
10:59
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Bajaj Allianz Life has launched Invest Plus
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21-May-09
11:46
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Bajaj Allianz Life Insurance posted profit of Rs 45 Cr in FY09
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13-May-09
12:59
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Bajaj Allianz Life launched ULIP plan
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21-Apr-09
10:41
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Allianz expands India presence into asset management
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11-Apr-09
10:45
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Policies for women : Bajaj Allianz
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31-Mar-09
09:46
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Bajaj Allianz to insure all Volkswagen vehicles
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17-Feb-09
16:20
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Bajaj Allianz launches CenturyPlus II
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20-Jan-09
12:50
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Private insurers see market share rise to 62%
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16-Jan-09
16:20
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Bajaj Allianz Life Insurance GWP is Rs 6726cr
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17-Dec-08
14:15
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Equity-based Ulips outdo indices
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13-Dec-08
11:20
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Allianz sees bright future for its Asian operations
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21-Nov-08
09:56
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Bajaj Allianz to infuse Rs.300 Cr
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30-Aug-08
10:12
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Vijender Singh snapped up by Bajaj Allianz Life Insurance
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22-Aug-08
17:00
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Bajaj Allianz Life Insurance is going in for a rejig
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18-Aug-08
11:40
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Bajaj Allianz Introducing Bajaj Allianz Fortune Plus
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